Organization Root Tag

Don't underestimate how lonely and messy entrepreneurship is, Walter said at American Banker's Small Biz Banking conference.

The program helped more than 23,000 consumers establish credit scores in its first year through partnerships with three fintechs, all of which were chosen to renew their participation.

While academics and supporters of the "retirement security rule" proposal say the administration's numbers are valid, critics reject them. Here's what we know.

The bombshell investigation into pervasive sexual misconduct at the Federal Deposit Insurance Corp. has spurred some senators to call for FDIC Chair Martin Gruenberg's resignation. If he can't right the ship, then he should step aside.

The Federal Reserve Board governor has emerged as a leading voice of skepticism on various regulatory rules and proposals. In doing so, she joins a long — and sometimes misunderstood — tradition of principled opposition at the central bank.

Bankers should stop thinking of small companies as difficult to serve, Comerica's Brian Haney says; "How does succeeding in small business make the retail bank stronger?"

Since the end of the Small Business Administration's 2022 fiscal year, the average loan size in its flagship program has dropped more than six figures. The addition of three new nondepository lenders could further drive down this figure.

Small Business Administration lending is an arena where community banks and nonbanks compete favorably with some of the largest U.S. financial institutions. Here are the biggest SBA 7(a) lenders based on the value of approved loans.

At first blush, the deal might provide evidence that the bank doesn't shun the oil and gas industry as the label suggests. In fact, Bank of America has been named by environmental groups as one of the biggest financiers of fossil fuels in the world.

A recent effort by Citigroup to nudge certain customers toward digital-only statements was well intended but too punitive, observers say. The key, they argue, for banks seeking to cut costs or achieve other goals is to offer incentives to those with ingrained habits.

The bank is adding fintech-style buy now/pay later lending to other recent payment upgrades at its merchant acquiring unit.

UBS joined rivals such as HSBC in allowing clients in Hong Kong to trade some crypto-linked exchange-traded funds amid a push by the city to foster a digital-asset hub.

Federal Housing Finance Agency Director Sandra Thompson is pushing for a quick launch of pilot programs at the 11 Federal Home Loan banks to help underserved communities after its report this week prescribed major reforms to the system.

The technology, which has its roots in cryptocurrency, could make corporate transactions more flexible.

Los Angeles-based Lendistry — in less than two years — became the largest Black-run 7(a) lender. Its CEO credits a concerted effort by the Small Business Administration to reach out to minority lenders and businesses, whose participation in the lending program is growing.

The amount of money that investors are parking at a major Federal Reserve facility dropped below $1 trillion for the first time in more than two years.

The release of ChatGPT a year ago prompted banks to hire for AI-related positions and begin testing uses for generative AI, which can summarize documents, write emails and churn out clever responses to users. JPMorgan is hiring and moving more aggressively than most banks.

Citigroup didn't admit any wrongdoing in its settlement of allegations by regulators that employees denied credit cards to people in Southern California suspected of being of Armenian origin.

Citi's global commercial bank head talks about why understanding your clients is critical for bankers.

The brokerage's managing partner talks about AI in wealth management, inflation, and her work on the St. Louis Fed board, in conversation with American Banker Editor-in-Chief Chana Schoenberger.